Arbitrum Tests Upper Trendline As Price Holds Above Critical $0.4518 Support

Arbitrum reclaimed the $0.4518 Fibonacci support and is now approaching resistance near $0.4926 amid a 6.25% rebound.

The asset continues to trade within a multi-month descending channel, with short-term support holding at $0.4413.

ARB/BTC gained 2.5%, showing relative strength against Bitcoin despite ARB's 3.6% daily pullback.

Arbitrum (ARB) is experiencing a crucial technical formation following months of bear pressure. The token recently showed fresh resilience, piercing numerous support levels and headed towards the upper end of a declining parallel channel

Through the latest session, ARB is trading at $0.4603, 3.6% lower over the past 24 hours. Although it retraced, there seems to be general consolidation with bull momentum. The 24 hour range sees the price trade into a low of 0.4413 and into the high at a central point of the $0.4926 resistance level, which will provide a limited area of volatility to keep track of by the trader.

Key Technical Levels Define Near-Term Structure

The latest formation indicates that the ARB trades just below the 0.5 Fibonacci retracement of approximately 0.5479. Nevertheless, the price has regained the 0.618 Fibonacci level of $0.4518, which has become an important short-term support line. The momentum may hold to a possible continuation to $0.6645, which is the 0.382 Fibonacci level

Notably, the broader descending channel remains intact, with the upper boundary converging near this zone. Meanwhile, support remains firmly established around $0.4413, keeping the lower trend line protected for now.

Momentum Builds Toward Higher Resistance Zones

Despite recent losses, Arbitrum has recorded a 6.25% increase from prior levels as of July 18. The bounce is following relentless construction lower, with numerous retests of the lower trendline validating. With current price action moving around the 0.786 retracement at $0.3170 and avoiding the long-term bottom at $0.2420, momentum appears directed towards retesting previous structural highs. The next significant resistance is at $0.6645, where a price cluster of history meets the upper trendline

BTC Pairing and Broader Market Context

The movement of ARB/USDT also corresponds to relative strength against Bitcoin, up 2.5% in ARB/BTC. The wider market environment can still have an impact on the course of ARB, at a time where risk sentiment changes. While price volatility remains within defined boundaries, the channel’s resistance is tightening. Traders are closely tracking volume, volatility bands, and Fibonacci zones as Arbitrum consolidates beneath $0.4926 and attempts to move toward the next resistance structure.